Coca-Cola (NYSE:KO) Stock Price Up 3.2% Following Earnings Beat

The Coca-Cola Company (NYSE:KO) shares shot up 3.2% during trading on Tuesday following a better than expected earnings announcement. The stock traded as high as $67.64 and last traded at $66.63. 13,380,909 shares traded hands during trading, a decline of 13% from the average session volume of 15,428,464 shares. The stock had previously closed at $64.55.

The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%.

Analysts Set New Price Targets

Several analysts have issued reports on KO shares. UBS Group cut their target price on Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 price target on shares of Coca-Cola in a research note on Thursday, February 6th. Wells Fargo & Company reduced their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. JPMorgan Chase & Co. decreased their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Finally, Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their price target for the stock from $69.00 to $75.00 in a report on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and a consensus price target of $72.19.

Institutional Trading of Coca-Cola

Several large investors have recently modified their holdings of KO. Annex Advisory Services LLC grew its position in shares of Coca-Cola by 11.3% during the third quarter. Annex Advisory Services LLC now owns 7,558 shares of the company’s stock worth $543,000 after purchasing an additional 769 shares in the last quarter. Carnegie Investment Counsel grew its holdings in Coca-Cola by 0.9% during the 3rd quarter. Carnegie Investment Counsel now owns 82,488 shares of the company’s stock valued at $5,927,000 after buying an additional 761 shares in the last quarter. Rise Advisors LLC raised its position in shares of Coca-Cola by 2.8% during the third quarter. Rise Advisors LLC now owns 7,762 shares of the company’s stock valued at $558,000 after buying an additional 214 shares during the last quarter. Redhawk Wealth Advisors Inc. lifted its holdings in shares of Coca-Cola by 41.3% in the third quarter. Redhawk Wealth Advisors Inc. now owns 8,464 shares of the company’s stock worth $608,000 after buying an additional 2,475 shares in the last quarter. Finally, Willis Investment Counsel boosted its position in shares of Coca-Cola by 6.2% during the third quarter. Willis Investment Counsel now owns 11,040 shares of the company’s stock worth $793,000 after acquiring an additional 643 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Up 3.4 %

The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The company has a market capitalization of $287.51 billion, a PE ratio of 27.60, a PEG ratio of 3.55 and a beta of 0.61. The company’s 50 day moving average is $62.55 and its two-hundred day moving average is $66.31.

Coca-Cola Company Profile

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.